Just like the single family market,the median sales price for condos went up in September as well to $105,500. Thats up 11% from last months $94,600 median price and up 3% from last September. As some foreclosures are being taken off the market temporarily, buyers are forced to look at more traditional sales bringing prices up a bit. I would look for the condo market to stabilize as more buyers come in for season and foreclosures come back onto the market over the next couple of months. Also Due to many cash buyers, condo associations are now becoming financially stable again putting more confidence in the condo market as well. There are many great buys out there right now for the cash buyer looking up to $100,000. Many newer townhomes and coach homes with garages that were selling in the 300's during the boom are in that price point.
Comments(0)